Investor Raoul Pal Bullish on Bitcoin (BTC), Gold (XAU)... And US Dollar (USD)

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Tue, 04/21/2020 - 06:02
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Alex Dovbnya
Raoul Pal of Real Vision Group explains why he expects the U.S. dollar (USD) to surge higher despite his bullish stance on Bitcoin (BTC) and gold (XAU)
Investor Raoul Pal Bullish on Bitcoin (BTC), Gold (XAU)... And US Dollar (USD)
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Former hedge fund manager and Real Vision Group Raoul Pal has just voiced his prediction that the U.S. Dollar (USD) is going to “explode higher” when the Federal Reserve makes interest rates negative.  

However, it doesn’t mean that he has changed his bullish stance on Bitcoin (BTC) and gold (XAU). 

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Expect a blow-off dollar 

While Pal agrees that the U.S. dollar is dying by “death of thousands of cuts,” he foresees that a blow-off top is coming before the demise of greenbacks.           

When global stocks and cryptocurrencies were violently crashing in mid-May, investors rushed to the U.S. dollar in search of safety. The demand was so high that banks were running out of banknotes.    

On March 20, the dollar index (DXY), which stacks up the U.S. against six major fiat currencies, reached 102.98, its highest level since January 2017.

This came just four days after the Fed cut interest rates to nearly zero on March 16.     

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This Is Best-Case Scenario for Bitcoin (BTC) Price Before Halving

Cash is king, cash is dead

As reported by U.Today, Pal opined that the dollar, gold, and Bitcoin made “the most sense” for investors during the pandemic.  

Mark Yusko of Morgan Creek Capital explained that cash is king during liquidity squeezes, but it would not manage to hold on to its throne for much longer.

This is why, in the long-term perspective, only Bitcoin and gold will save the day, according to Pal.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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